Based on CoreLogic’s latest Homeowner Equity Report for the second quarter of 2021, U.S. homeowners with mortgages (which account for roughly 63% of all properties) have seen their equity increase by 29.3% year over year, representing a collective equity gain of over $2.9 trillion, and an average gain of $51,500 per borrower, since the second quarter of 2020.

By June 2021, consumer confidence had risen to its highest level since the onset of the pandemic. This positive sentiment was echoed by current mortgage holders in a recent CoreLogic consumer survey, which found that 59% of respondents feel extremely confident in their ability to keep current on their mortgage payments in the coming year.

Thanks to ongoing government provisions, increased vaccine availability — enabling many to return to work and a steady income — and record homeowner equity gains, most borrowers have been able to remain current on their mortgage payments. Additionally, the majority of borrowers that fell behind on payments have a large home equity cushion that will help them avoid foreclosure.

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